Finance

Most rapid-growth startups and many high-growth SMEs don’t need a full finance team. When you’re trying to scale a business efficiently, remaining lean and agile is key – so every salaried member of staff needs to be essential to everyday operations. And the truth for many companies is that finance departments just aren’t an essential…

Many growing SMEs face a common challenge: overcomplicated finances. They have a tendency to make the numbers a scary, sacred thing – rarely sharing them outside of boardroom contexts. And whilst, yes, it does require nuance and knowledge to understand why debt might not be bad, or why soaring profits might cause problems – a…

Chancellor Jeremy Hunt released the Autumn Budget Statement on the 17th of November. The Autumn Budget Statement affects SMEs in a big way. Here is everything small business owners and its employees need to know about the Autumn Budget Statement. National Living Wage Increase The Autumn Budget Statement has announced a “substantial boost” to the…

As the UK is despairing over the latest rise in inflation, the conversation has understandably been focused on how the cost of living increases will affect everyday people. This is an important conversation to have, and companies should be aware of the struggles that their employees and consumers are facing. Inflation also affects businesses, and…

Your business processes are what standardise your customer experience and prevent errors. Having an easy-to-follow system in place allows your employees to perform their job without oversight. Creating processes is important to your business growth, but it should not be a singular task. You should review your processes regularly to ensure they are as efficient…

It is easy to overlook back-office operations like HR or Finance. They don’t make money as the sales department or marketing department do, so it is easy to think of them as a cost centre. A finance department is in fact, extremely beneficial to your business. It may not directly make you money, but it…

You can be forgiven for thinking that you don’t need to create an exit strategy unless you’re thinking of selling your business in the next few years. But you’d be wrong. Business owners should start thinking of their exit strategy the moment they start their business. What Is an Exit Strategy? An exit strategy is…

On the surface, planning, budgeting and forecasting may sound like three different ways of saying the same thing. But these are three different (though connected) critical business tasks. Failure to do any of the three can result in your business running out of cash. What Does Planning, Budgeting, and Forecasting Mean? All three of these…